Barr Says Earnings Will Exceed Forecasts
- Share via
Barr Laboratories Inc. said it will earn at least 21% more in its fiscal first quarter than previously thought, as health insurers switch U.S. patients to its generic version of the antidepressant Prozac.
Barr’s forecast followed a profit warning a day earlier by Indianapolis-based Eli Lilly & Co., which has seen its antidepressant market share fall by more than 80% since it lost patent protection in August.
Pomona, N.Y.-based Barr said it would earn $1.75 to $1.80 a share in its first quarter, well above the Wall Street forecast of $1.43, the average estimate of analysts polled by Thomson Financial/First Call.
Barr shares fell 28 cents to close at $83.12, while Lilly fell 28 cents to $78.97, both on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
